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Gomez: So where does a student get the money for an engagement ring?

Option 1: By saving from a part-time job.

Option 2: Taking a loan from a bank.

Option 3: Borrowing from friends.

Option 4: Winning it in a contest.

User Seth E
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Final answer:

A student looking to purchase an engagement ring might consider saving from a part-time job, taking a bank loan, borrowing from friends, or winning it in a contest, all of which relate to Business and personal finance.

Step-by-step explanation:

Gomez is exploring options for acquiring money to buy an engagement ring. This aspect of financial planning, saving, and borrowing relates closely to the subject of Business. At a high school level, students are starting to learn about personal finance and the concept of making significant purchases. There are several routes a student might consider:

  • Part-time job: Saving money from earnings is a common and traditional method for making big purchases. It instills a sense of financial responsibility and planning.
  • Bank loan: Another option may be taking out a loan from a bank, which requires understanding of interest rates and personal credit.
  • Borrowing from friends or family, which requires careful thought about personal relationships and the ability to repay.
  • Winning it in a contest, which is largely based on chance and not a reliable financial plan.

Regardless of the chosen method, the process involves examining personal finance options and understanding the implications of each choice.

User Vodenjak
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